Lehman administrators win CLN case in Korea
Seoul District Court dismisses efforts by Korea Investment & Securities to claim payment from Lehman Brothers International related to the Korean company's purchase of credit-linked notes in November 2006.
On February 11, the Seoul District Court dismissed a claim brought by TrueFriend, an assignee of Korea Investment & Securities (KIS), against Lehman Brothers International Europe (LBIE), seeking to recover 350 billion won ($314 million) of losses it incurred on the purchase of credit-linked notes (CLNs) dating back to November 2006.
The case centres around the purchase by KIS of CLNs – securities
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